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Northfield Bancorp (NFBK) got here out with quarterly earnings of $0.34 per share, beating the Zacks Consensus Estimate of $0.30 per share. This compares to earnings of $0.29 per share a 12 months in the past. These figures are adjusted for non-recurring gadgets.
– ZacksThis quarterly report represents an earnings shock of 13.33%. 1 / 4 in the past, it was anticipated that this holding firm for Northfield Financial institution would put up earnings of $0.28 per share when it truly produced earnings of $0.33, delivering a shock of 17.86%.
During the last 4 quarters, the corporate has surpassed consensus EPS estimates 4 instances.
Northfield
The sustainability of the inventory’s fast value motion based mostly on the recently-released numbers and future earnings expectations will principally depend upon administration’s commentary on the earnings name.
Northfield shares have added about 4.3% for the reason that starting of the 12 months versus the S&P 500’s decline of -8.6%.
What’s Subsequent for Northfield?
Whereas Northfield has outperformed the market up to now this 12 months, the query that involves traders’ minds is: what’s subsequent for the inventory?
There are not any straightforward solutions to this key query, however one dependable measure that may assist traders deal with that is the corporate’s earnings outlook. Not solely does this embody present consensus earnings expectations for the approaching quarter(s), but in addition how these expectations have modified these days.
Empirical analysis reveals a robust correlation between near-term inventory actions and developments in earnings estimate revisions. Traders can observe such revisions by themselves or depend on a tried-and-tested ranking device just like the Zacks Rank, which has a powerful observe document of harnessing the facility of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions development for Northfield: combined. Whereas the magnitude and route of estimate revisions may change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out in keeping with the market within the close to future. You possibly can see the entire listing of as we speak’s Zacks #1 Rank (Sturdy Purchase) shares right here.
It is going to be attention-grabbing to see how estimates for the approaching quarters and present fiscal 12 months change within the days forward. The present consensus EPS estimate is $0.31 on $40 million in revenues for the approaching quarter and $1.19 on $163.25 million in revenues for the present fiscal 12 months.
Traders ought to be aware of the truth that the outlook for the business can have a cloth affect on the efficiency of the inventory as effectively. By way of the Zacks Business Rank, Monetary – Financial savings and Mortgage is presently within the high 40% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
One other inventory from the identical business, Waterstone Monetary (WSBF), has but to report outcomes for the quarter ended December 2021.
This financial institution holding firm is anticipated to put up quarterly earnings of $0.48 per share in its upcoming report, which represents a year-over-year change of -59%. The consensus EPS estimate for the quarter has remained unchanged during the last 30 days.
Waterstone Monetary’s revenues are anticipated to be $55.7 million, down 33.9% from the year-ago quarter.
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As one investor put it, “curing and stopping a whole lot of ailments…what ought to that market be price?” This firm may rival or surpass different latest Zacks’ Shares Set to Double like Boston Beer Firm which shot up +143.0% in little greater than 9 months and NVIDIA which boomed +175.9% in a single 12 months.
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Northfield Bancorp, Inc. (NFBK): Free Inventory Evaluation Report
Waterstone Monetary, Inc. (WSBF): Free Inventory Evaluation Report
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